The discreet charm of the ...
Article Abstract:
Switzerland is the pioneer of the offshore investment system with about 70% of the country's total deposits belonging to foreigners. It remains a prime financial center because of the safety of bank deposits, lack of foreign currency controls and its tradition of bank secrecy. Some of its advantages, however, are being eroded due to outside pressure and international developments. Due to the insistence of the US government, insider trading is now a crime and there are now laws against money laundering. Switzerland's desire to join the European Community may result in further changes to its banking laws.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Pots of money
Article Abstract:
Vietnam's Ministry of Transport is auctioning off 28,000 pieces of 17th-century Chinese export porcelain recovered from a shipwreck off the coastline of Vung Tau. The Apr 7, 1992 auction will be held in Amsterdam, Netherlands, and will be handled by Christie's. Vietnam's territorial waters contain a veritable treasure trove of shipwrecks since the country lies along the ancient trade routes. As a result, the government intends to allow foreign-led exploration activities in the future.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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German tax lifts deposits
Article Abstract:
Foreign deposits in Guernsey, Channel Islands have experienced a surge in 1992. At the start of 1992, foreign deposits were approximately $25.4 billion, which then increased to $33.2 billion by the end of September and further rose to $37.5 billion by the end of 1992. The increase was attributed to the re-introduction of withholding tax in Germany, which resulted in transfer of deposits to the banks in Guernsey.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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